Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Philippines
PHLFCDODUPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
478,876.00
Year-over-Year Change
292.61%
Date Range
1/1/2010 - 1/1/2024
Summary
This economic trend measures the number of depositors at credit unions and financial cooperatives in the Philippines. It provides insights into the usage and accessibility of financial services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Philippines' series tracks the total number of deposit accounts held at these institutions. It serves as an indicator of financial inclusion and the reach of the cooperative banking sector in the Philippines.
Methodology
The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This trend is relevant for policymakers and analysts studying financial access and the development of the cooperative finance industry in the country.
Key Facts
- The Philippines has over 15,000 credit unions and cooperatives.
- Credit unions serve over 8 million members in the country.
- Financial cooperatives account for 10% of total assets in the Philippine banking system.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of depositors at credit unions and financial cooperatives operating in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and the reach of the cooperative banking sector in the Philippines, which is important for understanding financial access and development.
Q: How is this data collected or calculated?
A: The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts studying financial inclusion and the cooperative finance industry in the Philippines.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bangko Sentral ng Pilipinas, but there may be some delay in the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Credit Unions and Financial Cooperatives for Philippines (PHLFCDODUPENUM), retrieved from FRED.